Atlantic Money Transfer Review 2024: Is There a Catch?

Sending money internationally is often riddled with hidden fees, inflated rates, and unclear costs, making it tough to trust you’re getting the best deal.

Atlantic Money, however, promises the real exchange rates you’d find on Google and a low, flat £3 fee on transfers up to £1 million. Sounds ideal, right?

But with so many “too good to be true” offers out there, you might wonder—does Atlantic Money truly stand out?

More importantly, is it the right choice for you? How user-friendly is it, and can you trust it with your money?

In this Atlantic Money Transfer Review, we’ll dive into every detail, putting Atlantic’s bold claims to the test. From its flat £3/€3 fee model and real exchange rate promise to its speed and safety features, we’ll give you a full, honest picture of its value.

Regulated by the UK FCA and the National Bank of Belgium, Atlantic Money could be the answer to fair, predictable transfers—if it meets your needs.

So, let’s dissect their offerings and see if this newcomer deserves a spot in your financial toolkit.

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Let’s jump in!

Atlantic Money: Our Verdict

Atlantic Money is shaking up the international money transfer scene with its refreshingly simple and cost-effective approach. Founded in 2020, this newcomer stands out for its flat £3 fee on transfers up to £1,000,000—a game-changer compared to the percentage-based fees charged by most established providers. As transfer amounts increase, those percentage fees add up fast, making Atlantic Money’s fixed cost a clear winner for larger transactions.

What’s more, you’ll get the real mid-market exchange rates—the same rates you’d find on Google—with no hidden markups. This combination of transparency and affordability is a breath of fresh air in an industry where opaque fees and inflated rates are the norm.

Safety isn’t an afterthought either. Atlantic Money is fully authorized and regulated by the UK’s Financial Conduct Authority (FCA).

For now, Atlantic Money supports transfers in eight major currencies, including the Australian Dollar (AUD), Canadian Dollar (CAD), US Dollar (USD), and Euro (EUR), to over 50 global destinations. While the range of currencies is still growing, for the pairs they do offer, it’s extremely difficult for competitors to match their pricing. If your desired currency pair isn’t available, alternatives like Wise (great for smaller amounts) or Currencies Direct (ideal for larger sums) can be considered.

Verdict: If Atlantic Money supports your currency pair, it’s nearly impossible to beat their ultra-low fees and real exchange rates. For unsupported pairs, Wise or Currencies Direct are reliable alternatives, depending on your transfer size. However, if simplicity, savings, and transparency are your priorities, Atlantic Money is well worth considering.

Pros and Cons of Atlantic Money

If you’d like to go through the full review of Atlantic Money in detail, read on as I list down what I like, what I don’t like and is Atlantic Money transfer good for you?

What is Atlantic Money?

Atlantic Money is a new entrant in the international money transfer space, founded in 2020 by two American expats living in London, Neeraj Baid and Patrick Kavanagh, and launched officially in June 2022. Their mission is: to make international transfers simple, affordable, and transparent, especially for those sending larger amounts.

In a landscape already revolutionized by fintechs like Wise and Remitly, which disrupted traditional banks with lower fees and better rates, Atlantic Money is taking it a step further. You could say they’re now disrupting the disruptors.

While providers like Wise work well for smaller transfers (up to £800–£1,000), their percentage-based fees can make larger transactions costly.

Atlantic Money charges a flat £3 fee for transfers up to £1 million, offering a cost-effective alternative for high-value transfers. This flat-fee structure, combined with their use of real exchange rates (the ones you’d find on Google, without hidden markups), can mean significant savings, especially for regular or high-volume users.

When Atlantic Money launched in the UK, I had the opportunity to speak with one of their team members to understand their approach. What stood out was their focus on doing one thing exceptionally well: making foreign transfers affordable and simple. Unlike competitors trying to build “super apps” that offer a wide range of services, Atlantic Money is focused solely on delivering value in international money transfers. I don’t know how this could change in the future (because Wise started like that but now does everything!) but that’s what it is right now.

And that is reflecting in their very solid product in my experience. Atlantic Money isn’t trying to be everything to everyone—and that’s its strength. By focusing on core services like affordable transfers and real exchange rates, it delivers value where it matters most.

Currently, their service supports transfers in 10 major currencies from the UK (GBP) and Europe (EUR). While they don’t yet offer a broad range of currencies or destinations, their focus on major corridors makes them a compelling choice for many users.

Is Atlantic Money Safe?

Yes, Atlantic Money is a safe and regulated platform for international money transfers.

In the UK, they’re authorised and regulated by the Financial Conduct Authority (FCA) as a payment institution (check FCA register here).

For Europe operations, Atlantic Money is authorized and regulated by the National Bank of Belgium as a payment institution (check NBB register here).

This dual regulation provides reassurance that Atlantic Money operates within strict security and compliance frameworks.

Additionally, Atlantic employs robust security measures, including encryption and continuous monitoring, to protect user data and transactions from potential threats. These measures align with industry best practices, ensuring that users can trust the platform with their financial information.

When you send funds through Atlantic Money, your money is protected through a process known as safeguarding. As an Authorised Payment Institution (API) regulated by the Financial Conduct Authority (FCA), Atlantic Money is required to keep customer funds separate from its own operational funds. This segregation ensures that, in the unlikely event of the company’s insolvency, your funds remain secure and can be returned to you.

It’s important to note that, unlike traditional banks, APIs like Atlantic Money are not covered by the Financial Services Compensation Scheme (FSCS). The FSCS protects customers of certain financial institutions up to £85,000 if the institution fails. However, safeguarding provides a different form of protection by ensuring your funds are held separately and are not at risk if the company encounters financial difficulties. 

For more information on how safeguarding works and the protections it offers, you can refer to this page on FCA’s website or this page on Atlantic’s website.

Where is Atlantic Money Available?

Atlantic Money is currently available to residents of the United Kingdom and 30 European countries, including France, Germany, Italy, and Spain.

Users in these regions can send money internationally from GBP or EUR to these 10 currencies:

How Does Atlantic Money Work?

To send money with Atlantic money, follow the below simple steps:

Step #1. Registration and Account Setup

Before you can use Atlantic’s money transfer services, you’ll need to download the Atlantic Money app and sign up for a free Atlantic money account with basic details.

You can do this using the web app from your computer as well.

You’ll need to provide your:

• Country 
• Email address and,
• Password

For now, you must be a resident of the UK, EU or Australia to sign up. Here’s the list of supported countries: Australia, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom.

Click Continue. On the next screen, enter your:

• Name
• Date of birth
• Address and,
• Phone number (you’ll need to verify it to continue)

Once this is done, you’re ready to use Atlantic Money.

Step #2. Enter transfer details

Once your account is ready, log in to Atlantic Money and start a new money transfer:

1. Select the source currency (e.g., GBP or EUR) and the destination currency (e.g., INR, USD, AUD).
2. Enter the amount you want to send, and you will see:
   • The real exchange rate (no markups, exactly what you’d see on Google).
   • The exact amount the recipient will receive.
   • A clear breakdown of the £/€3 fixed fee for standard delivery or an additional 0.1% of the transfer amount for the express fee for faster transfers.

Step #3. Add Recipient Details

Provide the recipient’s:

• Full name
• Bank account number
• Bank details (e.g., SWIFT or IBAN)

Step #4. Pay for the transfer

Atlantic Money keeps it simple by allowing payments via linked bank accounts. Unlike some providers, they don’t support card payments to keep fees low and the process efficient.

Step #5. Confirm and track your transfer

Double-check all transfer details, including the recipient information and the total transfer and receiving amount, before confirming.

Once confirmed, Atlantic Money processes your transfer.

Funds are delivered directly to the recipient’s bank account. Atlantic Money will notify you when the transfer is complete, and recipients typically receive funds quickly, depending on the destination and selected delivery speed.

Atlantic Money Transfer Fees

Atlantic Money drastically undercuts the fees charged by traditional banks and other money transfer providers.

Atlantic charges a flat fee of £3 per transfer with zero forex markup. They promise absolutely no hidden fees added to their exchange rates.

That’s very reasonable, especially compared to other international money transfer companies.

For example, if you were to send £1,000 with a traditional bank, you could expect to pay around £30-£50 in fees. For any amount you transfer with Atlantic Money, you only pay a fixed fee of £3. That represents a saving of ~90% on fees.

And that fee doesn’t increase for amounts up to a full £1 million.

That, for higher amounts in the currencies that Atlantic supports, is even cheaper than Wise.

The £/€3 standard delivery takes 2 business days to convert your currency. If you need your money transferred quickly, there is also the option of Express delivery for an additional 0.1% fee.

We’ll put this claim to test in a sec.

Now, you might think how is this sustainable when even the cheapest money transfer apps charge more than what Atlantic money promises to charge.

Well, they do offer fast transfers for quicker delivery speeds so you may choose to pay more if you want your money delivered sooner than the £3 flat fee transfer.

The additional charge is 0.1% of the transfer amount. You’ll get this option when you create your transfer.

Transfer Type	Fees	Delivery Speed
Standard	£3 per transfer	3-5 working days
Express/Instant	£3 + 0.05% of the amount	Next working day or Instant
Weekend	Free: Next available rate, 0.1% last known rate	as per Standard or Express transfer

Atlantic Money Exchange Rates

As I have mentioned, Atlantic Money promises no added markup to the live exchange rates. This is what their website says on the rates:

“We source rates from large financial institutions that compete against each other, meaning we always secure one of the best exchange rates available for all currency corridors. We pass those savings directly on to you without taking any commission.”

These rates are available on their website and app. You can check their rates anytime without even creating an account.

To see how their exchange rate compares to the competition, I quickly looked at XE (one of the most popular currency converter sites) and Google’s currency converter. Then, I compared those rates to the ones offered by Atlantic Money.

Let’s take a look:

As you can see, the rates are very competitive. There is no significant difference between the rates offered by Atlantic Money and the rate you see on Google. This is good news as it means you’re not being overcharged for your transfer in hidden fees.

Currency Pair	Atlantic Money	Google	XE
1GBP → INR	106.77	106.87	106.84
1GBP → EUR	1.995	1.200	1.998
1GBP → USD	1.265	1.265	1.265
1GBP → CAD	1.767	1.768	1.768
1EUR → USD	1.05	1.05	1.05

Is there any markup at all? You tell me in the comments below.

Atlantic Money Transfer Speeds

Curious about how quickly Atlantic Money delivers? I decided to test their currency calculator on the site to see how soon transfers are processed based on the destination and currency pair. It’s a simple way to get a feel for what to expect and plan your transfer with confidence.

One things I’d like to mention here is: Atlantic Money (for some destinations) is not the fastest but for sure could come out to be the cheapest!

Try their calculator to find out if it works for you.

Receiving Country	Standard Delivery	Express Delivery
Australia (AU$)	4 business days	2 business days
Canada (CA$)	2-3 business days	1 business day
Denmark (DKK)	2-3 business days	1 business day
Europe (€)	1-2 business days	Instant, 24×7
India (₹)	1-2 business days	Same day
Norway (NOK)	2-3 business days	1 business day
Poland (PLN)	2-3 business days	1 business day
Sweden (SEK)	2-3 business days	1 business day
United States (US$)	2-3 business days	1 business day
United Kingdom (£)	1-2 business days	Instant, 24×7

In addition to the above estimates, here are a few tips for speedy transfers with Atlantic:

• Fund your transfers by 8:30 PM to process on the same day. Funding after this cut-off moves processing of your request to the next day.
• Transactions initiated on a weekend will process on the following Monday so keep that in mind.

Atlantic Money: Customer Reviews

Atlantic Money is still fairly new, and that’s why it hasn’t yet garnered a lot of customer reviews.

However, they do have a Great (4.1/5) rating on Trustpilot based on 140+ reviews.

I also checked their app listings on iOS and Android app stores as that’s another way to get an idea of what customers think using the Atlantic Money app.

On the iOS App Store, they are rated a solid 4.8/5 based on 197 reviews.

Google Play Store app carries the same 4.8/5 score based on 450+ reviews.

Impressive!

Customer Support and Service

Atlantic Money offers a straightforward approach to customer support, with a dedicated Help Centre packed with answers to frequently asked questions. You can explore their support page here, which covers most common queries about their services.

If you need to speak to someone, Atlantic Money makes it easy to get help through their app. Simply tap ‘Chat with us’ to connect with customer care via iMessage or WhatsApp.

• Tap WhatsApp, and the app will open WhatsApp on your phone.
• Tap iMessage, and it will take you straight to the Messages app on your iPhone.

I didn’t test this on Android, but I’d imagine the WhatsApp experience is similar. If you’re an Android user, feel free to share your experience in the comments—how does the native messaging integration work for you?

One thing to keep in mind is that customer support is only available Monday to Friday, 9 am–6 pm (London time). This might be a limitation if you need urgent help outside of these hours.

That said, during my test transfers (one to India and one to Canada), I didn’t need to contact support at all. Everything worked smoothly, and I was able to handle the entire process within the app. For most users, Atlantic Money’s streamlined app experience might mean you won’t even need to reach out for help.

While the customer support hours could be expanded, the available options are easy to use and integrate seamlessly into their app.

Atlantic Money Alternatives

While Atlantic Money excels with its flat £3 fee and real exchange rates, other services may be better suited for different use cases.

The main difference between Atlantic Money vs competitors is that the competition is fairly established with a large customer base and available currency pairs/corridors.

TL;DR

Atlantic Money is a strong contender prioritizing low fees and real exchange rates, especially for larger transfers. However, depending on your needs, these alternatives may suit specific situations better:

• Wise for smaller amounts under £1,000 or faster transfers. Wise review →
• Western Union if cash pickup is required.
• WorldRemit for versatile transfer methods like airtime top-ups or mobile wallets. WorldRemit review →
• XE for niche currencies and a wider range of destinations. XE review →
• Currencies Direct for a more personalized, guided service.

Here’s how Atlantic Money compares to some popular alternatives:

1. Wise vs Atlantic Money

Wise is a great option for smaller transfers under £1,000 thanks to its percentage-based fees and wide range of currency pairs. Wise offers mid-market exchange rates without markup, but its fees increase with larger transfers.

If you’re transferring a larger amount, Atlantic Money’s flat £3 fee becomes unbeatable, offering significant savings. For smaller transfers or when you need faster delivery, Wise may still be the better choice. However, when cost is the priority for bigger amounts, Atlantic is a no-brainer.

2. Western Union vs Atlantic Money

Western Union is ideal if you need cash pickup options—a feature Atlantic Money doesn’t currently offer. With over 550,000 agent locations worldwide, Western Union provides unmatched access and flexibility, making it a good choice for recipients who prefer in-person collection.

That said, cash pickups typically come with higher fees and exchange rate markups. If you don’t need the cash pickup feature and prefer cheaper fees with predictable rates, Atlantic Money wins easily, especially for larger amounts.

3. WorldRemit vs Atlantic Money

WorldRemit stands out for its versatility, offering various ways to send money such as bank transfers, mobile wallets, airtime top-ups, and cash pickups.

If these alternative methods are important to you, WorldRemit is a solid option.

Atlantic Money, on the other hand, focuses exclusively on bank-to-bank transfers, which helps keep its fees low. If you’re looking for cost-effective, bank-only transfers with no added frills, Atlantic is a great choice. However, for added flexibility in transfer methods, WorldRemit may be better.

4. XE vs Atlantic Money

XE is widely popular for its free transfers on many currency pairs (above certain amounts) and broad coverage of 220 destinations. It’s a good option if Atlantic doesn’t support your required currency pair.

However, Atlantic Money’s flat £3 fee and real exchange rates offer better value for major currency corridors like INR, USD, EUR, or AUD, especially for larger transfers. For smaller amounts or niche destinations, XE’s broader reach makes it a strong alternative.

5. Currencies Direct vs Atlantic Money

Currencies Direct is ideal if you need a dedicated service with a personal account manager to guide you through large transfers.

Atlantic Money, by contrast, is a self-serve platform, perfect for users comfortable handling transfers independently.

Both services are cost-effective for high-value transfers, but if you prefer a hands-on, personalized approach, Currencies Direct is worth considering.

Atlantic Money Free Transfers: Promo Code

If you like what Atlantic Money has to offer and would like to invite your friends and family members, you’ll get one free (standard) transfer credit worth £3/€3 for every friend that signs up and makes their first transfer.

You can share your referral code with as many people as you want, and there is no limit to the number of free transfer credits you can earn.

What’s more, your friend will also receive their first standard transfer for free!

To get your Atlantic Money referral link:

• Click on the profile icon (bottom right on the mobile app screen)
• Click Get Free Transfers
• Share your personal invite link using the multiple options

You can track your referrals in the app at Profile > Get Free Transfers > View referrals.

Atlantic Money Review: Summary

If you’re looking for a money transfer service that offers bank-beating rates and doesn’t charge any hidden fees, then Atlantic Money is a solid option for you to consider.

The only downside is that they are still a fairly new company, which means there aren’t a lot of customer reviews yet. However, the available reviews are mostly positive.

What do you think about Atlantic Money? Let us know in the comments below.

FAQs

Does Atlantic add markup on the exchange rate?

No, Atlantic doesn’t add any FX markup with no additional fees hidden in the exchange rates. They charge a flat £3 per transfer for all international money transfers (up to a max transfer amount of £1Mn and €100K).

I know this sounds too good to be true; I am very speculative about what money transfers charge too. I put this claim to the test and found the claims to hold true for the available currency pairs on Atlantic Money.

Who are the Founders of Atlantic Money?

Neeraj Baid and Patrick Kavanagh are the founders of Atlantic Money. They’re both American expats living in London, UK.

Does Atlantic Money provide an account for business use?

Yes, Atlantic Money provides a separate account for business money transfers.

How can I contact Atlantic Money for any issues?

There are a few ways to contact Atlantic Money. You can drop them an email at [email protected] or use the in-app live chat support (from 9 am to 6 pm, Monday to Friday).

What Services Does Atlantic Money Offer?

Atlantic Money offers a money transfer service that allows you to send money overseas at the live mid-market at a fixed flat fee of £3/€3.

When was Atlantic Money Transfer founded?

Atlantic Money was founded in December 2020 by Neeraj Baid and Patrick Kavanagh, both previously at Robinhood. The company officially launched its remittance services in 2022.